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怡安集团（AON）与Workday, Inc.（WDAY）财务数据对比。点击上方公司名可切换其他公司
怡安集团的季度营收约是Workday, Inc.的1.8倍（$4.3B vs $2.4B），怡安集团净利率更高（39.4% vs 10.4%，领先29.0%），Workday, Inc.同比增速更快（12.6% vs 3.7%），怡安集团自由现金流更多（$1.3B vs $550.0M），过去两年Workday, Inc.的营收复合增速更高（12.5% vs 2.8%）
怡安集团（Aon plc）是一家英美背景的专业服务企业，下设两大业务板块：风险资本板块提供风险管理、保险及再保险领域的经纪与咨询服务；人力资本板块提供健康保险、退休及养老金计划、人才咨询等相关服务。
Workday是全球领先的企业级云软件供应商，核心产品覆盖人力资本管理、财务管理及企业资源规划解决方案，主要服务教育、医疗、金融、科技等行业的中大型机构，业务遍布北美、欧洲、亚太等全球主要市场。
AON vs WDAY — 直观对比
营收规模更大
AON
是对方的1.8倍
$2.4B
营收增速更快
WDAY
高出8.9%
3.7%
净利率更高
AON
高出29.0%
10.4%
自由现金流更多
AON
多$773.0M
$550.0M
两年增速更快
WDAY
近两年复合增速
2.8%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.3B | $2.4B |
| 净利润 | $1.7B | $252.0M |
| 毛利率 | — | — |
| 营业利润率 | 28.1% | 10.6% |
| 净利率 | 39.4% | 10.4% |
| 营收同比 | 3.7% | 12.6% |
| 净利润同比 | 136.5% | 30.6% |
| 每股收益（稀释后） | $7.82 | $0.94 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AONWDAY
| Q4 25 | $4.3B | $2.4B | ||
| Q3 25 | $4.0B | $2.3B | ||
| Q2 25 | $4.2B | $2.2B | ||
| Q1 25 | $4.7B | $2.2B | ||
| Q4 24 | $4.1B | $2.2B | ||
| Q3 24 | $3.7B | $2.1B | ||
| Q2 24 | $3.8B | $2.0B | ||
| Q1 24 | $4.1B | $1.9B |
净利润AONWDAY
| Q4 25 | $1.7B | $252.0M | ||
| Q3 25 | $458.0M | $228.0M | ||
| Q2 25 | $579.0M | $68.0M | ||
| Q1 25 | $965.0M | $94.0M | ||
| Q4 24 | $716.0M | $193.0M | ||
| Q3 24 | $343.0M | $132.0M | ||
| Q2 24 | $524.0M | $107.0M | ||
| Q1 24 | $1.1B | $1.2B |
营业利润率AONWDAY
| Q4 25 | 28.1% | 10.6% | ||
| Q3 25 | 20.4% | 10.6% | ||
| Q2 25 | 20.7% | 1.7% | ||
| Q1 25 | 30.9% | 3.4% | ||
| Q4 24 | 26.3% | 7.6% | ||
| Q3 24 | 16.7% | 5.3% | ||
| Q2 24 | 17.4% | 3.2% | ||
| Q1 24 | 36.0% | 4.1% |
净利率AONWDAY
| Q4 25 | 39.4% | 10.4% | ||
| Q3 25 | 11.5% | 9.7% | ||
| Q2 25 | 13.9% | 3.0% | ||
| Q1 25 | 20.4% | 4.3% | ||
| Q4 24 | 17.3% | 8.9% | ||
| Q3 24 | 9.2% | 6.3% | ||
| Q2 24 | 13.9% | 5.4% | ||
| Q1 24 | 26.3% | 61.8% |
每股收益（稀释后）AONWDAY
| Q4 25 | $7.82 | $0.94 | ||
| Q3 25 | $2.11 | $0.84 | ||
| Q2 25 | $2.66 | $0.25 | ||
| Q1 25 | $4.43 | $0.34 | ||
| Q4 24 | $3.11 | $0.72 | ||
| Q3 24 | $1.57 | $0.49 | ||
| Q2 24 | $2.46 | $0.40 | ||
| Q1 24 | $5.35 | $4.48 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.8B | $6.8B |
| 总债务越低越好 | $15.2B | — |
| 股东权益账面价值 | $9.4B | $8.9B |
| 总资产 | $50.8B | $17.8B |
| 负债/权益比越低杠杆越低 | 1.63× | — |
8季度趋势，按日历期对齐
现金及短期投资AONWDAY
| Q4 25 | $2.8B | $6.8B | ||
| Q3 25 | $1.3B | $8.2B | ||
| Q2 25 | $1.4B | $8.0B | ||
| Q1 25 | $1.3B | $8.0B | ||
| Q4 24 | $1.3B | $7.2B | ||
| Q3 24 | $1.3B | $7.4B | ||
| Q2 24 | $1.2B | $7.2B | ||
| Q1 24 | $6.4B | $7.8B |
总债务AONWDAY
| Q4 25 | $15.2B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $17.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
股东权益AONWDAY
| Q4 25 | $9.4B | $8.9B | ||
| Q3 25 | $7.9B | $9.2B | ||
| Q2 25 | $7.8B | $8.9B | ||
| Q1 25 | $7.0B | $9.0B | ||
| Q4 24 | $6.1B | $8.6B | ||
| Q3 24 | $6.2B | $8.3B | ||
| Q2 24 | $5.9B | $8.2B | ||
| Q1 24 | $-133.0M | $8.1B |
总资产AONWDAY
| Q4 25 | $50.8B | $17.8B | ||
| Q3 25 | $51.6B | $18.0B | ||
| Q2 25 | $54.0B | $17.2B | ||
| Q1 25 | $50.3B | $18.0B | ||
| Q4 24 | $49.0B | $16.4B | ||
| Q3 24 | $49.9B | $16.2B | ||
| Q2 24 | $51.5B | $15.9B | ||
| Q1 24 | $40.8B | $16.5B |
负债/权益比AONWDAY
| Q4 25 | 1.63× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.78× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.37× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.4B | $588.0M |
| 自由现金流经营现金流 - 资本支出 | $1.3B | $550.0M |
| 自由现金流率自由现金流/营收 | 30.8% | 22.6% |
| 资本支出强度资本支出/营收 | 1.7% | 1.6% |
| 现金转化率经营现金流/净利润 | 0.83× | 2.33× |
| 过去12个月自由现金流最近4个季度 | $3.2B | $2.6B |
8季度趋势，按日历期对齐
经营现金流AONWDAY
| Q4 25 | $1.4B | $588.0M | ||
| Q3 25 | $1.1B | $616.0M | ||
| Q2 25 | $796.0M | $457.0M | ||
| Q1 25 | $140.0M | $1.1B | ||
| Q4 24 | $1.2B | $406.0M | ||
| Q3 24 | $1.0B | $571.0M | ||
| Q2 24 | $513.0M | $372.0M | ||
| Q1 24 | $309.0M | $995.6M |
自由现金流AONWDAY
| Q4 25 | $1.3B | $550.0M | ||
| Q3 25 | $1.1B | $588.0M | ||
| Q2 25 | $732.0M | $421.0M | ||
| Q1 25 | $84.0M | $1.0B | ||
| Q4 24 | $1.1B | $359.0M | ||
| Q3 24 | $951.0M | $516.0M | ||
| Q2 24 | $460.0M | $291.0M | ||
| Q1 24 | $261.0M | $947.6M |
自由现金流率AONWDAY
| Q4 25 | 30.8% | 22.6% | ||
| Q3 25 | 27.0% | 25.0% | ||
| Q2 25 | 17.6% | 18.8% | ||
| Q1 25 | 1.8% | 46.4% | ||
| Q4 24 | 27.6% | 16.6% | ||
| Q3 24 | 25.6% | 24.7% | ||
| Q2 24 | 12.2% | 14.6% | ||
| Q1 24 | 6.4% | 49.3% |
资本支出强度AONWDAY
| Q4 25 | 1.7% | 1.6% | ||
| Q3 25 | 1.7% | 1.2% | ||
| Q2 25 | 1.5% | 1.6% | ||
| Q1 25 | 1.2% | 3.9% | ||
| Q4 24 | 1.3% | 2.2% | ||
| Q3 24 | 1.7% | 2.6% | ||
| Q2 24 | 1.4% | 4.1% | ||
| Q1 24 | 1.2% | 2.5% |
现金转化率AONWDAY
| Q4 25 | 0.83× | 2.33× | ||
| Q3 25 | 2.51× | 2.70× | ||
| Q2 25 | 1.37× | 6.72× | ||
| Q1 25 | 0.15× | 11.83× | ||
| Q4 24 | 1.68× | 2.10× | ||
| Q3 24 | 2.95× | 4.33× | ||
| Q2 24 | 0.98× | 3.48× | ||
| Q1 24 | 0.29× | 0.84× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AON
| Commercial Risk Solutions | $2.3B | 54% |
| Health Solutions | $1.1B | 26% |
| Wealth Solutions | $490.0M | 11% |
| Reinsurance Solutions | $379.0M | 9% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
